The GDP growth in the second quarter of 2022 was 3.54%. It dropped to 2.25% in the third quarter of the year on low oil production. However, the GDP growth rebounded in the fourth quarter of 2022. Eko Hot Blog reports that Nigeria’s Gross Domestic Product (GDP) grew by 3.52% (year-on-year) in real terms in … Read more
President Muhammadu Buhari has said that the nation’s Gross Domestic Product (GDP) grew by 3.5 percent in the first quarter of 2022. Eko Hot Blog reports that he however said that the government must continue to work for higher growth so that Nigerians will feel the impact. EDITOR’S PICK JUST IN: Ethiopian Embassy Bans Visa On … Read more
Nigeria economy Tops 2021 Growth Forecasts on Crops Nigeria GDP grew 3.4% in 2021; central bank estimate +3.1% Oil production fell to 1.50 barrels per day in the fourth quarter EKO HOT BLOG reports that Nigeria’s economy recorded a higher Gross domestic product (GDP) growth forecast by the central bank and government in 2021 after … Read more
International Monetary Fund (IMF) has cut down its 2020 Gross Domestic Product (GDP) forecast for Nigeria to two percent, from the 2.5 per cent it had predicted earlier. According to the IMF, the cut reflects the impact of lower international oil prices while inflation in the country is expected to pick up. Data released by … Read more